Al Futtaim Plans to Sign EGP 1 B in Contracts in 2016

• Tuesday, 10th May 2016
• by Nadine Abou el Atta

Al Futtaim Real Estate intends to sign contracts worth EGP 1 billion in 2016, while also increasing investment in its Cairo Festival City projects by EGP 2 billion, for a total investment of EGP 19 billion, the company’s Managing Director Mohamed Al Mikawi told Daily News Egypt.

Egypt’s Ministers Fly to UAE to Boost Investment

• Thursday, 28th April 2016
• by Nadine Abou el Atta

Sahar Nasr, Minister of International Cooperation; Moustafa Madbouly, Minister of Housing, Utilities and Urban Development; and Mohammed Saphan, the Chairman of the Holding Company for Petrochemicals, arrived in Abu Dhabi on April 27 to follow up on potential UAE partnerships in development and investment projects.

Egypt’s Madaar Development to Pump EGP 700 M in its Azha Project

• Monday, 25th April 2016
• by Nadine Abou el Atta

Madaar Development, an Egyptian real estate company, plans to invest EGP 700 million ($78 million) in its Azha compound, located in Ain El Sokhna, reported Amwal Al Ghad.

Sinai Witnesses EGP 3.8 B in Investments in FY 2016/2017

• Monday, 25th April 2016
• by Nadine Abou el Atta

The Sinai Peninsula recently received a government investment worth EGP 3.8 billion, with 32 percent of the projects already implemented, the Sinai Development Agency stated, according to Daily News Egypt.

Housing Minister Meets a Delegation of French Businessmen and Officials

• Monday, 18th April 2016
• by Nadine Abou el Atta

The Minister of Housing, Utilities and Urban Communities, Moustafa Madbouly, met with a delegation of French businessmen and company officials operating in the fields of construction, utilities, financial institutions, and advisory offices, on the sidelines of the French President’s visit to Cairo, reported Invest Gate.

Presidential Decree Allows Industrial Lands to be Allocated to Investors For Free

• Wednesday, 13th April 2016
• by Nadine Abou el Atta

A presidential decree issued by President Abdel Fattah Al Sisi dictates that pieces of lands in some industrial zones can be allocated to investors at no cost. The decree was published in the state's official gazette.

Egypt, Saudi Arabia Sign 222 B Investment Fund Pact

• Tuesday, 12th April 2016
• by Nadine Abou el Atta

Egypt and Saudi Arabia signed EGP 222 billion ($25 billion) worth of agreements during Saudi King Salman bin Abdul Aziz Al-Saud’s visit to Cairo in April, Sahar Nasr, Minister of International Cooperation, told Daily News Egypt.

Egypt Prepares to Invite Investors to New Administrative Capital

• Tuesday, 12th April 2016
• by Nadine Abou el Atta

The Egyptian government has begun organizing a forum for major real estate investment companies to offer potential investment opportunities in the new administrative capital.

Egyptian, Saudi Investors Voice Concerns over Obstacles

• Tuesday, 5th April 2016
• by Nadine Abou el Atta

A number of major real estate investors operating in Egypt have voiced concerns over obstacles affecting the growth of the industry, and hence their businesses. The most prominent of these obstacles include an increase in the price of land, lack of vision, and absence of trained labor, reported Daily News Egypt.

69% of Real Estate Professionals Confident in Market Growth

• Monday, 4th April 2016
• by Nadine Abou el Atta

An estimated 50 percent of investors and 69 percent of real estate professionals expressed confidence in Egypt’s real estate market and expected growth over the upcoming year, according to a market analysis by YouGov, an internet-based market research firm, reported Daily News Egypt.